Although banks now grant loans to almost every group of people, housewives do not have easy access to all banks. The low income is often used as an excuse to achieve a rejection. But not all banks think so, because many see a housewife as the optimal borrower who brings many advantages. Housewives are usually very good with money and know exactly what they can and cannot afford. So the applicant should not give up too quickly and look for a suitable offer.
What does a housewife have to bring with her?
In order to successfully apply for a loan for a housewife, the applicant must submit a budget. This states the amount of income and expenditure. In addition, the last three bank statements should be submitted, ideally also those of the husband, if available. These help you decide on a loan for a housewife.
Banks can use the budget to see how much money the housewife has when the rent, insurance and all other living expenses are deducted from income. With the money that remains, the loan amount and the credit rate can be determined. As soon as this invoice has been drawn up, it can be calculated which term is the best for the applicant. Since she has to pay monthly installments on the loan for a housewife, these should not be set too high. If the income is high enough that no further collateral has to be submitted, an application can be made.
The collateral is too low what to do?
If the income is too low and the collateral is lacking, the housewife has to take care of other collateral. The spouse can act as a surety. The latter pays the installments if the applicant is no longer able to do so. The husband should not have any negative entries in the Credit Bureau and it is best not to have a credit run himself.
Housewives also often have life insurance that has been running for several years or decades. Thus, it has a very high surrender value and can be used for the loan for a housewife. If it is a matter of financing furniture, an installment loan can also be taken out from an online shop. No credit rating is asked here. However, the installments must be paid on time every month so that the bailiff does not come to the door at some point.